Market Newsdesk

NEW YORK, June 10, 2021 /PRNewswire/ — WW International, Inc. (NASDAQ: WW), a human-centric technology company powered by the world’s leading commercial weight management program, announced today the winners of its first-ever WW Wellness Impact Award. The new global initiative aims to empower, uplift and support community leaders to help address the systemic inequities faced in countries including the US, Canada, United Kingdom, France, Sweden, Belgium, Netherlands, Australia and New Zealand.

Every community deserves resources for healthy living – and WW knows first-hand the power of community to support and uplift each other – but the staggering reality is that not every community has equal access, and this was only exacerbated by the COVID-19 pandemic. In North America, in acknowledgement of the stark health and funding inequities caused in part by systemic racism, the inaugural year of the award specifically spotlights leaders dedicated to the advancement of wellness in Black, Indigenous and communities of color.  For instance, communities of color are three times less likely than white communities to have access to parks, walking paths, and green spaces¹, and Black and Hispanic adults are twice as likely to experience food insecurity as white adults². When it comes to funding and support, only 10 percent of grant dollars go to people of color³ — a figure the Wellness Impact Award seeks to influence.

More than 400 organizations were nominated, representing wellness issues from fighting food insecurity to advocating for access to nature. Of those, six organizations across North America and seven organizations globally were selected to each receive a $15,000 grant awarded by WW to support their mission.

“Our goal with this award is to raise awareness of the root causes of wellness inequities by highlighting community-led solutions and amplifying the reach of local changemakers,” said Gail Tifford, Chief Brand Officer, WW. “We had so many powerful submissions and we’re so proud to honor those that are taking a stand to democratize and reimagine what wellness looks like for their communities.”

The North American grant winners are:

• 
  
  Esperanza Community Farms
  
  
  , which ensures low-income farm-working families have access to fresh, pesticide-free, culturally preferred fruits and vegetables and helps give marginalized voices the crucial tools to fight for food justice within their communities.
• 
  
  Backyard Basecamp
  
  , which helps young people establish a connection with, and feel confident in, the outdoors by creating safe outdoor spaces and through educational nature programs.
• 
  
  Black Girls Do Bike
  
  
  , which works to ensure everyone — especially girls and women of color — has the ability to enjoy the freedom, empowerment, and positive effects of cycling, while breaking down systemic barriers to cycling.
• 
  
  EatWell Exchange
  
  
  , which increases accessibility and offers credible nutrition education with a focus on culture through community gardens and culinary programs.
• 
  
  Soul Trak Outdoors
  
  
  , which is on a mission to empower outdoor advocates by engaging disenfranchised communities through recreation, service, and leadership in nature — while amplifying the voices of diverse leaders.
• 
  
  Restoration and Empowerment for Social Transition (REST) Centres
  
  , which help provide access to safe and affordable housing for youth experiencing homelessness whose income may not be reliable.

In the global markets, the winning organizations focused on the root causes of health inequities, including sustained access to food and mental health resources. The global grant winners are:

• 
  
  Cheesy Waffles Project
  
   (UK), which supports all people, including people with learning disabilities, have access to safe, supportive activities and opportunities in life to help promote the learning of new skills, try new activities, visit new places and most importantly have fun.
• 
  
  Cop’1
  
   (FR), which students in need by mobilizing local volunteers to organize weekly, free distribution of food and basic necessities.
• 
  
  Generation Pep
  
   (SE), which gives young people the opportunity to establish active and healthy lives by changing the culture around physical activity and eating habits.
• 
  
  Vincent de Paul Belgium
  
   (BE), which addresses all aspects of poverty, including housing, food, and education, with a network of 300 local associations through the lenses of dignity and holistic health.
• 
  
  Stichting MIND
  
  (NL), which fights for everyone struggling with mental health by promoting understanding of mental health, providing support and improving healthcare.
• 
  
  Community Friends
  
   (AU), which supports people experiencing homelessness as well as those at-risk for homelessness by providing food, clothing, housing, and health services.
• 
  
  The Mums Clique
  
   (NZ), which ensures that no mother ever feels alone while navigating parenthood, by offering free or low-cost programming and essential products, as well as an emphasis on fostering community and friendships.

In addition to the grant, winners will have the opportunity to take part in a variety of WW campaigns and initiatives. They will also receive free WW memberships and inclusion as a charity option in WW’s member loyalty program, in partnership with its foundation, WW Good, a 501(c)(3) nonprofit organization. Each of the winners will also have exposure to WW leadership and experts, WW’s millions of members, and spotlight features to engage WW’s community on their causes.

Award finalists — Black Girls Cook, Free Black Therapy, Asian Americans for Housing and Environmental Justice, Pride ROC, Feed Black Futures, Shelley Cares Foundation and the WISH Drop-In Centre — will also receive funding opportunities and spotlights among the WW community.  Beyond recognizing the finalists, the inaugural Wellness Impact Award inspired WW to create an alumni community of applicants that will have the opportunity to participate in knowledge sharing sessions, expert seminars, and networking.

The award jury selection process included the WW Wellness Impact Committee, a group of diverse WW employees that spans levels and areas of the organization, and the broader WW community, inclusive of both members and non-members.

About WW International, Inc.
WW (formerly Weight Watchers) is a human-centric technology company powered by the world’s leading commercial weight management program. As a global wellness company, we inspire millions of people to adopt healthy habits for real life. Through our comprehensive digital app, expert Coaches and engaging experiences, members follow our proven, sustainable, science-based program focused on food, activity, mindset and sleep. Leveraging nearly six decades of expertise in nutritional and behavioral change science, providing real human connection and building inspired communities, our purpose is to democratize and deliver holistic wellness for all. To learn more about the WW approach to healthy living, please visit ww.com. For more information about our global business, visit our corporate website at corporate.ww.com. 

For more information, contact:

Kelsey Merkel, WW
[email protected]

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SOURCE WW International, Inc.

SHANGHAI
, June 10, 2021 /PRNewswire/ — JD.com, China’s leading technology driven e-commerce company and Dada Group (“Dada”), a leading platform of local on-demand retail and delivery in China, jointly published a white paper today titled, “Chinese On-demand Consumption Trends Report 2021.” Featuring proprietary insights into the latest on-demand economy trends in China, the report highlights the key growth opportunities and near-term challenges in China’s rapidly growing on-demand and hyperlocal e-commerce industry.

On Mar. 22, Dada announced that JD.com will increase its stake to 51% by investing a total of US $800 million in newly issued ordinary shares. Leveraging JD’s devoted strategic support, Dada will better fulfil demands for local on-demand retail and its delivery on JD, covering various scenarios and categories, and expand the omni-channel cooperation with JD.

The report includes detailed data on consumer demand trends and market penetration and growth rates based on the billions of orders fulfilled by JDDJ, Dada’s on-demand retail platform, and Dada Now. JDDJ, a partnership between Dada Group and JD.com, is one of China’s largest integrated digital solutions providers bringing traditionally offline retailers, such as supermarkets, flower shops, beauty brands, and other local stores, online. Dada Now is China’s leading local on-demand crowdsourcing delivery platform covering more than 2,700 cities and counties, providing customers with one-hour delivery for groceries, cosmetics, electronics, smartphones, medicines and more.

“The unprecedented growth of China’s on-demand economy in recent years, particularly its accelerated momentum through COVID, is revolutionizing consumer behaviour across China.” said Huijian He, Vice President of Dada Group. “The rise of on-demand, hyperlocal one-hour delivery of goods, has transformed the retail industry and increased consumers’ expectations for a best-in-class shopping experience. With significant consumer demand in first- and second-tier cities, and large and rapidly growing demand in lower-tier cities, retailers, on-demand retail platforms and delivery services are increasingly competing for higher speed, flexibility and convenience across the on-demand economy. With millions of riders across thousands of cities and regions in China, Dada Group is actively working to meet this demand and we are excited to continue our growth as we expand to new geographies and enter new partnerships with stores, retailers and brands.”

Hui Liu, Chief Data Officer at the JD Big Data Research Institute, commented, “We are excited to issue this white paper, which provides our first-hand data-driven observations and insights based on the billions of orders fulfilled each year by JDDJ and Dada Now. We look forward to leveraging this data to continue to drive innovation across our platform as we deliver the speed, flexibility and convenience that consumers are increasingly demanding and realize the numerous growth opportunities in China’s on-demand economy. JD.com and Dada Group are uniquely positioned to benefit from this recent paradigm shift in the commercial and retail landscape in China.” 

The white paper’s key findings include:

On-demand consumption is here to stay

The onset of the coronavirus pandemic and stay-at-home mandates drove widespread consumer adoption of technology solutions to facilitate the on-demand delivery for daily household products. While fresh food is, by far, the largest segment of the on-demand delivery, accounting for 70% of daily consumption according to a user survey by JDDJ, other areas such as electronics, beauty products, and clothes have increased dramatically in 2021, with year-on-year growth rates of:

• Dairy: +120%
• Personal Hygiene: +114%
• Snacks: 91%
• Maternity and Baby care: 90%

Millennials are still the most prevalent consumer group, making up 50% of the on-demand economy, with female consumers born after 1980 as the most dominant consumers, representing 67% of the on-demand market. That said, the market is attracting an increasingly diverse group of consumers, by both age and region. The white paper details how the number of male consumers has jumped by to 33% in 2021, up from 25% in 2018, while the proportion of middle-aged and elderly users (40+ years old) has increased to 28% in two years, up from 22% in 2019. 

In addition to the significant expansion in customer demographics, on-demand consumption is rapidly expanding to new markets, including increased penetration into lower-tier cities, particularly in the Midwestern region of China, where the local residents demand one-hour hyperlocal e-commerce delivery. In the fourth quarter of 2020, gross merchandise value (GMV) of JDDJ in lower-tier cities soared 150% year-on-year. In 2020 alone, the proportion of users in lower-tier cities increased by 26%. According to JDDJ’s sales from the 415(April 15) Anniversary Shopping Festival, which covered more than 1,500 cities and counties across China, 90% of merchants that joined JDDJ for over a year saw sales double year-on-year.

The on-demand market continues to grow exponentially across China. The top three regions in terms of on-demand consumption orders are South, North and Southwest China, accounting for nearly 70% of all orders. Orders in southwest China accounted for nearly 20%, overtaking East China to rank third. Among them, Sichuan is a major province in terms of on-demand consumption, with orders accounting for nearly 10%.

The rise of out-of-home and out-of-hour on-demand spending

Driven by easing lockdowns and an increasing focus on connecting people with a wider array of products, post-pandemic on-demand consumption in China has experienced a shift from households (74%) to workplaces (8%) and educational institutions (3%), which is further extending to recreational venues, including fairgrounds, tourist hotspots and parks. 

There is also significant demand for 24/7 on-demand services, and those businesses serving late-night (12 pm – 2 am) customers are reaping the benefits from a new wave of customers who want reliable delivery service outside of traditional business hours.

Omnichannel retailing on the next level

China is leading the way in omnichannel retailing. A new wave of transformational change of omnichannel retailing is underway, fuelled by the integration between traditional e-commerce, offline retailers and on-demand retail platforms to meet the customer demands for a more diversified shopping experience. 

In the era of hyperlocal e-commerce, one-hour delivery has become the new normal and it is quickly emerging as a major channel for supermarkets and grocery chains to win business. Leveraging the highly efficient logistics networks of on-demand retail platforms, a growing number of offline retailers and brand owners are cooperating closely with on-demand platforms like JDDJ and Dada Now to establish delivery channels for their customers, while benefiting from their enormous online traffic pool to increase foot traffic in brick-and-mortar stores.

On-demand Services

Service consumption in China is steadily increasing and on-demand retail platforms are partnering with brick-and-mortar stores to offer consumers value-added on-demand services. JDDJ is the first platform in the industry to create a nationwide credible delivery service, providing delivery services for high-value orders. Many on-demand platforms have started bringing mobile phone trade-in services to the customers’ doorstep, saving the time and effort of visiting a retail store.

“Minutes-level” delivery is on its way

The digital neighborhood stores will give birth to so-called “minute-level” delivery. This allows users to choose a nearby store to place an order at based on their GPS location, after which the delivery rider will pick up and deliver the goods within the user’s neighborhood. The entire hyperlocal e-commerce process is completed within a few short minutes.

Dada is pioneering one-hour delivery services in China, available to consumers in more than 2,700 cities and counties across the country. With its extensive logistics networks and delivery infrastructure, Dada works in tandem with JDDJ to shorten delivery times. As a result of this joint effort, the average delivery time of on-demand orders has been reduced by 17% compared with 2019, with the fastest deliveries taking less than 10 minutes.

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SOURCE Dada Group

CHENGDU, China, June 10, 2021 /PRNewswire/ — Senmiao Technology Limited (“Senmiao”) (Nasdaq: AIHS), a financing and servicing company focused on the online ride-hailing industry in China and an operator of its own online ride-sharing platform, today announced the signing of a cooperation agreement with Didi Chuxing (Beijing) Online Platform Technology Co., Ltd. (“Didi“), a leading global platform for mobile transportation and local services, boasting over 550 million users and tens of millions of drivers worldwide. Under the terms of the agreement, Senmiao and Didi, its affiliates and partners (collectively, “Didi Open Platforms”) will collaborate to aggregate riders on their platforms. Senmiao has had a longstanding partnership with Didi related to automobile transaction and related services since November 2018.

Under this cooperation agreement, Didi Open Platforms will serve as a ride-hailing order aggregator for Senmiao. Senmiao will receive orders from riders utilizing Didi Open Platforms’ online ride-hailing applications in certain cities, beginning with Chengdu. Once orders are received by Didi Open Platforms, they will be distributed to registered drivers on Senmiao’s platform for viewing and acceptance. Senmiao will pay information technology service fees to a technology company cooperating with Didi for each completed order based on a certain percentage of the value of the order.

Xi Wen, Senmiao’s Chairman and Chief Executive Officer stated, “We are thrilled to be collaborating with the online ride-hailing giant Didi. Our focus has been on forging partnerships with major players in the space. Since our initial launch in October 2020, Senmiao’s online ride-hailing platform has seen impressive growth as we have expanded into additional cities with plans to launch in other major metropolitan areas where ride-hailing has become increasingly popular as a convenient and affordable mode of transportation. We are pleased to have the support of a major player in the space like Didi and look forward to this expanded partnership.”

About Senmiao Technology Limited

Headquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchase and financing, management, operating lease, guarantee and other automobile transaction services as well as operates its own ride-hailing platform aimed principally at the growing ride-hailing market in Senmiao’s areas of operation in China. For more information about Senmiao, please visit: http://www.senmiaotech.com. The Company routinely provides important information on its website.

Cautionary Note Regarding Forward-Looking Statements 

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements (including those relating to the operation of Senmiao’s ride-hailing platform) are subject to significant risks, uncertainties and assumptions, including those detailed from time to time in the Senmiao’s filings with the SEC, and represent Senmiao’s views only as of the date they are made and should not be relied upon as representing Senmiao’s views as of any subsequent date. Senmiao undertakes no obligation to publicly revise any forward-looking statements to reflect changes in events or circumstances. 

For more information, please contact:
At the Company:
Yiye Zhou
Email: [email protected]
Phone: +86 28 6155 4399

Investor Relations:
The Equity Group Inc.                                                                       In China
Adam Prior, Senior Vice President                                                   Lucy Ma, Associate
(212) 836-9606                                                                                 +86 10 5661 7012
[email protected]                                                                        [email protected]

© 2021 Senmiao Technology Ltd. All rights reserved.

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SOURCE Senmiao Technology Limited

WENZHOU, China, June 10, 2021 /PRNewswire/ — ZK International Group Co., Ltd. (Nasdaq: ZKIN) (“ZKIN”, “ZK International” or the “Company”), is pleased to announce that xSigma DEX, a DeFi project by ZK International’s subsidiary, xSigma Corporation, surpassed $1 billion of total volume. xSigma DEX allows users to swap stablecoins, such as USDT, USDC and DAI. So far, the project processed over $400 million for stablecoin exchange transactions and over $600 million for liquidity provider transactions.

xSigma is also pleased to announce that it is currently working on major upgrades for the DeFi project, such upgrades will include:

1)  A bridge for transferring its governance token (SIG) to the Binance Smart Chain (BSC) network;
2)  Upgraded pools that will enable a buyback of the SIG tokens; and
3)  Time locks for liquidity pools.

Also, the CTO of xSigma, Alex Lebed, shared some insights about the future plans for the DEX during an interview hosted by Jane King on the New to the Street show, which was also aired on Bloomberg TV and Fox.

https://newtothestreet.com/new-to-the-street-interviews-alex-lebed-the-chief-technology-officer-at-zk-international-inc 

xSigma’s team is working on getting the software ready before it finally goes live on the BSC network, focusing on security. The xSigma DEX has proven to be one of the securest decentralized apps on the market due to the rigorous quality standards it enacts. These days, security is proving to be a major problem for many Apps, while xSigma decided to take additional steps to ensure user safety before its releases any updates.

xSigma DEX will be launching on BSC soon. xSigma is attempting to provide one of the most secure ways to earn interest to stablecoins on Binance Smart Chain, with minimal risk and no impermanent loss. The launch will be accompanied by a marketing campaign, and special incentives will be offered to early LPs on the BSC. xSigma DEX’s website can be found at: https://xsigma.fi

About ZK International Group Co., Ltd.

ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards.  ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which in its current supply state is 70% unfit for human contact.  ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors.  ZK has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing National Airport, the “Water Cube” and “Bird’s Nest”, which were venues for the 2008 Beijing Olympics.  Emphasizing superior properties and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinkable water to not only to the China market but to international markets such as Europe, East Asia and Southeast Asia.  

For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company’s SEC filings please visit www.sec.gov.

About XSigma Corporation

XSigma Corporation, is a subsidiary of ZK International Group Co., Ltd. Together with ZK International, has launched xSigma as a research and development lab back in 2018 to solve real-world infrastructure challenges. Its mandate was to explore new opportunities in smart contracts, supply chain management and other blockchain-based solutions. XSigma has since pivoted to decentralized finance, focusing on decentralized exchanges, stablecoins and lending protocols. The research lab is now actively working on its ecosystem of products beginning with its DeFi protocol. The ultimate objective is to build a range of financial tools and products for the flourishing decentralized finance industry.  The xSigma team that are being assembled are on the leading edge of blockchain research and development that intersects decentralized finance, supply chain management, IoT, and infrastructure. The DeFi protocol is one of many decentralized finance projects xSigma plans to launch over the next 12 months. It will feed into a growing network of DeFi products for enterprise and consumer markets. Any blockchain protocol is subject to a degree of risk; xSigma’s DeFi protocol has implemented tamper-resistant programming, but is still subject to potential hacks.For further information about xSigma, please visit its website at  www.xsigma.com , www.xsigma.fi , https://xsigma-trading.com and https://xsigma-nft.com 

Safe Harbor Statement 

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International.  Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in the Company’s filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized.  In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Investor Contact:

Sherry Zheng

Weitian Group LLC
Email: [email protected]
Phone: +1 718-213-7386

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SOURCE ZK International Group Co., Ltd.

CALABASAS, Calif., June 10, 2021 /PRNewswire/ — American Homes 4 Rent (NYSE: AMH) (the “Company”), a leading provider of high-quality single-family homes for rent, has been ranked by BUILDER magazine as the 45^th largest homebuilder in the country on its 2021 Builder 100 List.

“American Homes 4 Rent’s debut in the top 50 on the Builder 100 list less than four years after delivering our very first home is a testament to our foresight to pursue the built-to-rent strategy and our pioneering AMH Development program’s ability to deliver highly desirable, single-family rental communities in rapidly growing markets,” said David P. Singelyn, Chief Executive Officer, American Homes 4 Rent. “We’re proud to be the highest ranked builder solely focused on single-family rental homes and we are laying the foundation for sustained growth over the coming years.”

American Homes 4 Rent delivered 1,647 homes in 2020. The 2021 Builder 100 list can be viewed here.

About American Homes 4 Rent

American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and “American Homes 4 Rent” is a nationally recognized brand for rental homes, known for high-quality, good value and tenant satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing and operating attractive, single-family homes as rental properties. As of March 31, 2021, we owned 53,984 single-family properties in selected submarkets in 22 states.  

Additional information about American Homes 4 Rent is available on our website at http://www.ah4r.com.

Contact:
American Homes 4 Rent
Media Relations
Megan Grabos
Phone: (805) 413-5088
Email: [email protected]

 

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SOURCE American Homes 4 Rent

BEIJING, June 10, 2021 /PRNewswire/ — WiMi Hologram Cloud, Inc. (“WiMi” or the “Company”) (NASDAQ: WIMI) today announced that WiMi, VIYI Algorithm Inc., (“VIYI Algo”), a company controlled by WiMi, and Venus Acquisition Corporation (Nasdaq: VENA) (“Venus”), a publicly traded special purpose acquisition company, have entered into a definitive merger agreement. A newly created merger subsidiary of Venus will be merged with and into VIYI Algo with VIYI Algo being the surviving entity and becoming Venus’s wholly owned subsidiary. Upon closing of the transaction, Venus will change its name to MicroAlgo Inc. and continue as a Cayman Islands exempted company.

The merger is structured as a stock for stock transaction and is intended to qualify as a tax-free reorganization. The terms of the merger provide for a valuation of VIYI Algo and its subsidiaries and businesses of US $400,000,000. VIYI Algo is dedicated to the development and application of bespoke central processing algorithms. Central processing algorithms refer to a range of computing algorithms, including analytical algorithms, recommendation algorithms, and acceleration algorithms. VIYI Algo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of VIYI Algo’s services include algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. VIYI Algo’s ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for VIYI Algo’s long-term development.

Currently, VIYI Algo is focused on developing and delivering central processing algorithm solutions to customers engaged in internet advertisement and gaming, and intelligent chips. VIYI Algo’s customer base is rapidly growing due to a general demand for more efficient data processing in various industries driven by the growing internet population and prevalence of AI. In the mid-to-long term, VIYI Algo will continue to adhere to its strategic mindset. By improving upon each iteration of VIYI Algo’s one-stop intelligent data management solutions made possible by its proprietary central processing algorithm services, VIYI Algo can help customers to enhance their service efficiency and make model innovations in business, and actively enhance the industry value of the central processing algorithm services in the general field of data intelligent processing industry.

The boards of directors for both Venus and VIYI Algo have approved the proposed merger, which is expected to be completed by the end of third quarter of 2021, subject to, among other things, the approval by Venus’ shareholders of the merger and other customary closing conditions, such as the U.S. Securities and Exchange Commission (the “SEC”) completing its review of the registration/proxy statement and Nasdaq’s approval for listing shortly.

Advisors

DLA Piper is acting as U.S. legal advisor to WiMi Hologram Could Inc. and VIYI Algorithm Inc. Maples and Calder (Hong Kong) LLP is acting as Cayman Islands legal advisor to VIYI Algorithm Inc. and Zhuo Ne Law Firm is acting as its PRC advisor.

Becker & Poliakoff is acting as U.S. legal advisor to Venus and Ogier is acting as its Cayman Islands legal advisor.

About WIMI Hologram Cloud Inc.

WiMi Hologram Cloud, Inc.(NASDAQ: WIMI), whose commercial operations began in 2015, is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies. For more information, please visit http://ir.wimiar.com.

ABOUT VIYI ALGO

VIYI Algo is dedicated to the development and application of bespoke central processing algorithms. VIYI Algo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of VIYI Algo’s services include algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. VIYI Algo’s ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for VIYI Algo’s long-term development.

Safe Harbor / Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.

NO OFFER OR SOLICITATION

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

NO ASSURANCES

There can be no assurance that the proposed merger will be completed, nor can there be any assurance, if the merger is completed, that the potential benefits of combining the companies will be realized. The description of the merger contained herein is only a summary and is qualified in its entirety by reference to the definitive agreements relating to the Merger, copies of which will be filed by Venus with the SEC as an exhibit to a Current Report on Form 8-K.

PARTICIPANTS IN THE SOLICITATION

Venus, VIYI Algo, certain shareholders of VIYI Algo, including WiMi, and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of Venus ordinary shares in respect of the proposed transaction. Information about Venus’s directors and executive officers and their ownership of Venus’ common stock is set forth in Venus’s prospectus filed with the SEC on February 10, 2021. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the proposed transaction when it becomes available.

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SOURCE WiMi Hologram Cloud Inc.

NANPING, China, June 10, 2021 /PRNewswire/ — Happiness Biotech Group Limited (the “Company” or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer and e-commerce services provider, announced today that Taochejun (Fujian) Automobile Distribution Co., Ltd. (“Taochejun”), a subsidiary of the Company in China, has entered into a distribution agreement with Zhejiang Fengsheng Automobile Sales Co., Ltd (“Maple Auto”), a wholly owned subsidiary of Geely Technology Group Co., Ltd., or Geely, to distribute electric vehicles under the brand “Maple” .

According to the distribution agreement, Taochejun will become the sales agent for “Maple 80V” in Ningbo City and Hangzhou City. The minimum sales target for the six months ended December 31, 2021 is 200 vehicles. Maple Auto will provide complete after-sales service and technical support. Taochejun is an upgraded version of Happy Auto. The Company has redesigned and upgraded its auto Business Unit, which was initially under the brand name of “Happy Auto”, including the brand logo, marketing campaign and the future planning, etc. Taochejun will replace Happy Auto as the unified brand of the Company’s Auto Business Unit in the future. The Company has registered the trademark of Taochejun in China and launched the WeChat App of Taochejun in May 2021. Taochejun will fully inherit the resources and mission of Happy Auto, and further strengthen the sales and service of new and used cars, especially new energy vehicles.

“We are very happy to cooperate with Maple Auto and reach an agreement regarding distribution of Maple automobiles. As a wholly-owned subsidiary of Geely, Maple Auto has strong technical support and industry influence. We believe that our cooperation will achieve good results. We also have very high hopes for Taochejun, as the upgraded version of Happy Auto, it will have more layout in the field of new energy vehicles. At present, we are still discussing cooperation with more manufacturers and large distributors to further expand our client base. We believe that with the growth of our platform, we will gain more attraction and trust from our clients in the future,” said Mr. Xuezhu Wang, CEO of the Company.

About Happiness Biotech Group Limited

Headquartered in Nanping, China, Happiness Biotech Group Limited has two business segments: nutraceutical and dietary supplements and e-commerce. The nutrition and dietary supplements business is focusing on the research, development, manufacture and marketing of various products made from Chinese herbal extracts and other ingredients. Over the past 17 years, we have established a product portfolio consisting of 32 PRC National Medical Products Administration registered “Blue-Cap” SKUs of nutraceutical and dietary supplements products. Our e-commerce business focuses on providing e-commerce solutions and services for small and medium-sized enterprises. Our mission for the e-commerce segment is to constantly enable small and medium-sized enterprises to fully leverage the power of e-commerce to grow rapidly. For more information, please visit: www.happ.org.cn

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China, the COVID-19 outbreak and its impact on our operations and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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SOURCE Happiness Biotech Group Limited